COGFA-ST BUDGET ESTIMATES

Amends the State Budget Law of the Civil Administrative Code of Illinois and the Commission on Government Forecasting and Accountability Act. Prohibits the Governor's proposed expenditures for a fiscal year, and the General Assembly's appropriations therefor, from exceeding the available revenue estimated by the Commission on Government Forecasting and Accountability (now, may not exceed revenues estimated to be available). Requires that the Commission estimate the revenues available for the next fiscal year's appropriation by each February 1 (now, at the convening of each regular General Assembly session) and revise the estimate by each May 1 (now, by the third Wednesday in each March). Eliminates the requirement that the General Assembly adopt the estimates by joint resolution. Requires that the Commission revise its estimate of revenues available for each current fiscal year's appropriation by October 1, February 1, and May 1, and prohibits supplemental appropriations in excess of the most recent estimate. Effective immediately.